Mr Dickie says the Government had promised that foresters would get their carbon credits and on that basis people invested in forestry.

"Some people have invested large amounts in carbon forests, based on the government policy and what they were saying. For some people they'll lose tens of millions I would think. Everybody feels totally let down by the government's decision."

Roger Dickie says the Emissions Trading Scheme now has no muscle and will disappear down the gurgler.